EDITIONS

Upcoming BCH Hard Fork and EOS/TRX mainnet swap

So what exactly is happening with these cryptos?

Varunraj Keskar
7th May 2018
Add to
Shares
0
Comments
Share This
Add to
Shares
0
Comments
Share

Recently, Coindelta announced complete support for the BCH Hard Fork and EOS/TRX Mainnet swap, most of you would be aware of what exactly is going to happen, for those of you who are not aware, do not worry! This post will explain it all 

So what exactly is the BCH Hard Fork?

Bitcoin Cash(BCH) is the world’s fourth-largest cryptocurrency by market cap at the time of writing(source). It was famously launched with a hard fork in August 2017, when BCH split from the original Bitcoin (BTC) chain. Now BCH is using the same strategy to enhance the real-world applications of its cryptocurrency!

Bitcoin Cash

Bitcoin Cash

The May 15 hard fork is also known as the “protocol upgrade”. It quadruples the block size from 8MB to 32 MB.

Bitcoin(BTC) has maintained its initial block-size of 1MB since its inception in 2009 which affected its scalability which was addressed by the following:

1. SegWit (Segregated Witness)- It is a protocol upgrade that changes the way that data is stored. It was activated on bitcoin on 23rd August, 2017.

2. Lightning Network - It is a “second layer” payment protocol that operates on top of a blockchain.

However, BCH aims to tackle this problem by increasing the block size further.

image

Bitcoin Cash Hard Fork changes and upgrades:

Block size will be raised to 32 MB, which is the largest possible block size achievable without changing peer-to-peer protocols.

The hard fork will re-enable the existing opcodes that were disabled earlier(these are the foundations for some of the more advanced smart contracts)

The possibility of time-stamping data. This will allow the users to hash a document and add it to the blockchain.

If you hold any Bitcoin Cash in the Coindelta Wallet, you do not need to worry at all. Coindelta will provide full support to any BCH holder on Coindelta. The BCH deposit and withdrawal services will be suspended 6 hours before the hard fork and will be back once the network becomes stable. As always, we assure you that your funds will remain safe with us. BCH-INR trading will not be affected by this upgrade. You can follow the development on BCH hard fork website here.

However, if you are holding any BCH in your personal wallets, you should immediately upgrade to the latest release. You can find more information about it here.

EOSIO(EOS) Mainnet Migration

EOS is preparing to launch the main net on June 2nd. The launch of EOS.io will transit EOS from the Ethereum (ERC20) Blockchain to EOS’s main net which may result in many advantageous effects.

image

Launching the mainnet will completely change the token as we know it.

If you have your EOS on Coindelta, you don’t need to worry about anything as our team will take care of this process

However, right now, EOS is based on ERC20 and if you hold any EOS in your personal ethereum wallet, you are required to register your address on EOS smart contract to be a part of the snapshot. The deadline is set to be June 1 UTC. Please follow their official site for more details.

image

EOS Mainnet upgrades and changes

The EOS.io software will implement a new blockchain architecture that is set to enable both horizontal and vertical scaling of the decentralised applications.

The software will enable authentication, scheduling of applications, asynchronous communications, accounts, and databases across various CPU cores and clusters.

All of this will result in creating a pathway for millions of transactions that will take place each second. It will also eliminate fees once and for all and make deployment of decentralised applications straightforward and quick.

So how does this affect you? How will Coindelta help?

If you hold any ERC20 EOS tokens on Coindelta on or before June 1st 11:59 PM IST, you do not need to worry about anything. Our team will ensure a smooth migration for you and you will receive EOS tokens in equal proportion to your ERC20 EOS tokens.

We will provide full support for all of our users to ensure a smooth migration.

TRON (TRX) Mainnet Migration

Similar to the EOS main net launch, TRON(TRX) will also transit from its ERC20(Ethereum Blockchain) to its own main net.

image

Some interesting facts about TRON(TRX)

1. It was originally designed to give digital content creators full ownership and control over their content. The company is targeting the media and entertainment sector.

2. Justin Sun, CEO and founder of TRON is still the Chief Representative and Advisor at Ripple Labs. He was inspired by Ripple to create TRON(TRX)

3, TRON has announced many partnerships with blockchain gaming industry. Blockchain in gaming is a new revolution right now, and TRON is proving to be the catalyst with strategic partnerships with the likes of ‘BitGuild’ and ‘Reality Square Games’.

So how does this affect you? How will Coindelta help?

To take part in the mainnet swap with Coindelta, please make sure that you deposit your TRX into Coindelta wallet before June 20th. All coindelta users will receive TRX tokens in equal proportion to their ERC20 TRX holdings

So that’s all for now, please do not hesitate to reach out to us on support@coindelta.com in case of any doubts or queries! We will be happy to guide you further through this change.

Stay tuned for more announcements!

Coindelta Website

Coindelta Twitter

Coindelta Telegram Group

Coindelta Announcements

Until next time! 

Add to
Shares
0
Comments
Share This
Add to
Shares
0
Comments
Share
This is a YourStory community post, written by one of our readers.The images and content in this post belong to their respective owners. If you feel that any content posted here is a violation of your copyright, please write to us at mystory@yourstory.com and we will take it down. There has been no commercial exchange by YourStory for the publication of this article.
Report an issue
Authors

Related Tags